Friday, April 8, 2016

Option Open Interest for 08-04-2016

Inference
The index opened flat and stayed in a very narrow range of just 42.65 points but closed positive at 7555.20, small gain of 8.75 points. The broader market was positive with 954 advances to 590 declines. The range for series has expanded on the lower side at 7300-8000.
  • Call option 7600-8100 added 10.98 lacs OI with profit booking seen at 7900 and 8200 strike prices.
  • Put option 7300-7000 added 9.33 lacs OI with short covering seen at 7600 and above strike prices.
  • Nifty Open Interest is at 1,56,91,500 down by 43,200, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 17,80,680 up by 76,020, with increase in price, most probably long build-up.
  • FII’s sold huge 15315 contracts of Index Futures, which includes net 6229 contracts long liquidation and 9086 contracts short build-up, with increase in net OI by 2857 contracts, includes 31645 longs to 219735 shorts for the day.
  • FII’s Index future open contract as on date is 123320 Longs to 96415 Shorts, Net 26905 down by 15315 contracts.
  • Initial and best support at 7500, with OI of 47.34 lacs and below that at 7400 with OI of 41.97 lacs.
  • Initial resistance at 7600, with OI of 35.07 lacs and above that at 7700 with OI of 45.86 lacs.
  • Day Range as per Option Table is 7488 - 7617 and as per VIX is 7490 - 7620 with 7550 as the Pivot.
India VIX : 16.43 down by 0.51 points
Call OI : 48634500
Put OI : 36347550
PCR OI : 0.747
SMR : 21.99 (Bearish : The OI table stays weak with the PE writers covering huge around 7600-7500 range, upside resistance starts from 7700 onwards, stays a sell on rise...)